Parker-Hannifin (NYSE:PH) CFO Sells $2,066,825.08 in Stock

Parker-Hannifin Corporation (NYSE:PH) CFO Todd Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Parker-Hannifin Trading Up 1.9%

NYSE:PH traded up $19.09 during trading hours on Friday, reaching $1,001.30. 582,353 shares of the company were exchanged, compared to its average volume of 692,454. The firm has a market cap of $126.38 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.21 and a beta of 1.25. The stock has a 50 day simple moving average of $918.20 and a 200 day simple moving average of $822.11. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,012.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the firm posted $6.53 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Procyon Advisors LLC raised its stake in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Norges Bank bought a new stake in Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $185,532,000. Canada Pension Plan Investment Board lifted its holdings in Parker-Hannifin by 115.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after buying an additional 197,317 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after acquiring an additional 169,073 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the topic of several recent research reports. Susquehanna restated a “positive” rating and set a $1,000.00 target price on shares of Parker-Hannifin in a report on Wednesday, November 12th. Argus restated a “buy” rating and set a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. JPMorgan Chase & Co. upped their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Stifel Nicolaus raised their target price on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a report on Friday, January 30th. Finally, Mizuho upped their price target on Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.